Est. Mortgage: $/month
MLS Number 72553031
- Land Residential
- Next Open House: Thu 22nd 2:30 pm - 3:00 pm
- Acreage 0.09
HUGE single family in MULTI FAM ZONING in Fort Hill! Property was fully renovated in 2015-2016 and is currently a 7 bed 2.5 bath rental generating $5,200 per month, giving this property a CAP RATE of over 7%! LEASED UNTIL 8/31/2020, and current tenants have occupied the house for over 2 years (just renewed for their 3rd year). Property has all new electrical and plumbing, granite and stainless in kitchen, in-unit laundry, driveway parking, etc! Tenants also pay ALL UTILITIES including water/sewer, and they are responsible for snow shoveling and yard work - making this property as easy to manage as possible. Opportunity to increase rent to $5,500-$5,600 next year (current tenants have been at $5,200 for 3 years), or apply for re-zone and potentially build 4 large townhouses. Property is zoned high density MFR zoning, and similar sized lot 3 doors down is about to break ground on 4 large townhouses, which was an as-of-right development! HUGE potential to build big in booming location!!
Listed by Dillon Brennan, Dillon Brennan Realty